Bessemer Group Inc. Trims Stake in Northrop Grumman Co. (NYSE:NOC)

Bessemer Group Inc. decreased its stake in Northrop Grumman Co. (NYSE:NOC - Free Report) by 11.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 670,146 shares of the aerospace company's stock after selling 82,430 shares during the quarter. Bessemer Group Inc. owned approximately 0.46% of Northrop Grumman worth $314,493,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC purchased a new stake in Northrop Grumman during the 4th quarter worth approximately $31,000. Albion Financial Group UT purchased a new stake in shares of Northrop Grumman during the fourth quarter worth approximately $33,000. Modus Advisors LLC acquired a new position in Northrop Grumman in the 4th quarter valued at $38,000. Stonebridge Financial Group LLC acquired a new stake in Northrop Grumman during the 4th quarter worth $42,000. Finally, Rakuten Securities Inc. grew its holdings in shares of Northrop Grumman by 291.7% during the fourth quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company's stock worth $44,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

Insiders Place Their Bets

In other news, CEO Kathy J. Warden sold 3,750 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the completion of the transaction, the chief executive officer now directly owns 212,852 shares of the company's stock, valued at approximately $101,243,053.80. This represents a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Benjamin R. Davies sold 192 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the sale, the vice president now directly owns 709 shares in the company, valued at $304,217.72. This trade represents a 21.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,505 shares of company stock worth $2,127,182 in the last 90 days. Corporate insiders own 0.22% of the company's stock.

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Northrop Grumman Stock Up 0.2 %

Shares of NOC stock traded up $1.23 during trading on Monday, reaching $535.22. The company's stock had a trading volume of 271,964 shares, compared to its average volume of 866,473. Northrop Grumman Co. has a 1-year low of $418.60 and a 1-year high of $555.57. The stock's 50-day moving average price is $481.83 and its 200 day moving average price is $491.44. The company has a market capitalization of $77.15 billion, a price-to-earnings ratio of 18.89, a P/E/G ratio of 3.73 and a beta of 0.20. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, topping analysts' consensus estimates of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. On average, research analysts anticipate that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.54%. The ex-dividend date was Monday, March 3rd. Northrop Grumman's dividend payout ratio (DPR) is presently 29.08%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NOC. Wolfe Research upgraded shares of Northrop Grumman from an "underperform" rating to a "peer perform" rating in a research report on Monday, February 3rd. StockNews.com lowered Northrop Grumman from a "strong-buy" rating to a "buy" rating in a research report on Monday, February 3rd. Barclays cut their price target on Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating for the company in a report on Monday, January 6th. Truist Financial initiated coverage on Northrop Grumman in a research note on Tuesday, January 14th. They set a "buy" rating and a $544.00 price objective on the stock. Finally, Argus upgraded Northrop Grumman to a "strong-buy" rating in a report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $543.65.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.